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Talking Points
- Prices rose as expected after forming a Bullish Engulfing pattern at support in near 0.89
- Break above 0.9035 hints at further upside and we’ll continue to hold a long position
- Next upside objective from here is in the 0.9256-95 area (range top, 23.6% Fib retracement)
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Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
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